Concert Wealth Management Inc. raised its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,871 shares of the company’s stock after buying an additional 151 shares during the period. Concert Wealth Management Inc.’s holdings in ConAgra Foods were worth $283,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. HBK Investments L P increased its stake in ConAgra Foods by 13.1% in the first quarter. HBK Investments L P now owns 675,033 shares of the company’s stock worth $30,120,000 after buying an additional 78,437 shares during the last quarter. Mariner Wealth Advisors LLC increased its stake in ConAgra Foods by 0.9% in the first quarter. Mariner Wealth Advisors LLC now owns 38,153 shares of the company’s stock worth $1,702,000 after buying an additional 332 shares during the last quarter. Prudential PLC acquired a new stake in ConAgra Foods during the first quarter worth about $5,570,000. Simmons Bank acquired a new stake in ConAgra Foods during the first quarter worth about $492,000. Finally, Geode Capital Management LLC increased its stake in ConAgra Foods by 1.9% in the first quarter. Geode Capital Management LLC now owns 3,524,151 shares of the company’s stock worth $156,930,000 after buying an additional 65,043 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors.
ConAgra Foods Inc. (NYSE:CAG) traded up 1.34% during midday trading on Friday, reaching $47.55. 3,231,043 shares of the company’s stock traded hands. The firm’s 50-day moving average is $45.40 and its 200-day moving average is $46.02. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 31.83 and a beta of 0.34. ConAgra Foods Inc. has a 1-year low of $37.97 and a 1-year high of $48.81.
ConAgra Foods (NYSE:CAG) last released its quarterly earnings data on Thursday, September 29th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.13. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The firm earned $2.67 billion during the quarter. During the same quarter in the previous year, the business posted $0.41 earnings per share. ConAgra Foods’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts forecast that ConAgra Foods Inc. will post $2.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, October 27th. ConAgra Foods’s payout ratio is currently 66.67%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of ConAgra Foods from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Jefferies Group reaffirmed a “buy” rating and set a $55.00 price target on shares of ConAgra Foods in a research note on Monday, July 4th. Royal Bank Of Canada upped their price target on shares of ConAgra Foods from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Sunday, July 3rd. TheStreet downgraded shares of ConAgra Foods from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 30th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of ConAgra Foods in a research note on Friday, June 24th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ConAgra Foods currently has an average rating of “Buy” and an average target price of $50.91.
About ConAgra Foods
ConAgra Foods, Inc operates as a packaged food company. The Company sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It also supplies frozen potato and sweet potato products, as well as other vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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